GOING
THE DISTANCE
EUROSPORTS
GLOBAL
.80
NOT E S TO T HE
F I NANC I A L S TAT EMEN T S
YEAR ENDED
31 MARCH, 2016
10.
INCOME TAX (CONT’D)
10B. Deferred tax expense recognised in profit or loss includes:
GROUP
2016
$’000
2015
$’000
Excess of book value of plant and equipment over tax values
−
5
Excess of tax values over net book value of plant and equipment
(49)
(592)
Tax loss carryforwards
(1,056)
(603)
Deferred tax not recognised
1,105
1,190
Total deferred tax expense recognised in profit or loss
–
–
10C. Deferred tax balance in the statements of financial position:
GROUP
2016
$’000
2015
$’000
Deferred tax assets recognised in profit or loss:
Excess of book value of plant and equipment over tax values
(696)
(5)
Excess of tax values over net book value of plant and equipment
119
(621)
Tax loss carryforwards
1,943
887
Deferred tax not recognised
(1,366)
(261)
Net
–
–
No deferred tax asset (on deductible temporary differences and unused tax losses) has been recognised in respect
of the above balance.
The realisation of the future income tax benefits from tax loss carryforwards of approximately $10,690,000 (2015:
$5,505,000) are available for an unlimited future period subject to the conditions imposed by law including the
retention of majority shareholders as defined.
